The series utilizes the 2.0L powerplant of the Zetec or Pinto engine coupled with chassis from companies such as Van Diemen, Citation, Mygale, RFR, Radon and Piper. Unlike other developmental series, there are no spec cars in F2000.

The series has existed in one form or another since the 1970s and the current championship has been in place since 2006 and was founded by a group of Sports Car Club of America racers as a pro series for SCCA Formula Continental club racers looking for more competition, and a proving ground for aspiring open wheel racers.

In 2010, a revival of the previous series named the U.S. F2000 National Championship, intended for young aspiring professional drivers, began racing. It uses a similar specification of car and is sanctioned by IndyCar. However, as that series now is a single-spec series, this series is a professional Formula Continental based series and is the second step, after the F1600 (the traditional Formula Ford).